UBS Asset Management Americas Inc. maintained its position in Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,700 shares of the insurance provider’s stock at the end of the second quarter. UBS Asset Management Americas Inc.’s holdings in Third Point Reinsurance were worth $329,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Third Point Reinsurance by 650.7% during the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock worth $112,000 after acquiring an additional 7,015 shares in the last quarter. SG Americas Securities LLC acquired a new position in Third Point Reinsurance during the second quarter worth about $122,000. Fox Run Management L.L.C. acquired a new position in Third Point Reinsurance during the second quarter worth about $150,000. Campbell & CO Investment Adviser LLC acquired a new position in Third Point Reinsurance during the second quarter worth about $169,000. Finally, Principal Financial Group Inc. acquired a new position in Third Point Reinsurance during the second quarter worth about $267,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 16.70 on Wednesday. The firm has a market cap of $1.72 billion, a P/E ratio of 8.64 and a beta of 1.26. The stock has a 50 day moving average price of $15.81 and a 200 day moving average price of $14.10. Third Point Reinsurance Ltd. has a 1-year low of $11.05 and a 1-year high of $16.95.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. The company had revenue of $280.88 million for the quarter. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. On average, analysts anticipate that Third Point Reinsurance Ltd. will post $2.75 EPS for the current year.

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Several research analysts have commented on TPRE shares. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price (up previously from $14.00) on shares of Third Point Reinsurance in a research note on Friday, July 7th. Zacks Investment Research raised Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Saturday, July 8th. BidaskClub raised Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a research note on Friday, August 4th. Finally, ValuEngine raised Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.13.

About Third Point Reinsurance

Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company’s segments include Property and Casualty Reinsurance, and Corporate. The Company’s investable assets are managed by its investment manager, Third Point LLC.

Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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